Why is customer satisfaction so important?

Most business owners and heads of organization firmly believe that customer satisfaction is definitely something to aim for. There are some researchers, however, who are convinced that satisfied stakeholders are not necessarily loyal stakeholders. Hence, they argue that measuring customer satisfaction is a waste of time and that it’s stakeholders loyalty that should be tracked instead. Do you, too, find yourself wondering if customer satisfaction really matters? This article lists three reasons why customer satisfaction is crucially important for any organization.

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First, let’s talk numbers

Before we begin our short but sweet exposé, we thought we’d share a few interesting stats with you. For instance, did you know that:

Zappos, an online retailer known for its extremely high customer satisfaction rate, reports that 70 to 75 procent of its sales stem from purchased made by returning customers. Additionally, loyal Zappos customers tend to order more than two times the amount they ordered as first-time customers.

The importance of customer satisfaction

Still not convinced? These reasons are definitely worth a read:

1. Stakeholders are more expensive to gain than to retain

Gaining new stakeholders is more expensive than retaining the ones you already have. Think about it: treating a stakeholder to a friendly smile costs your organization nothing. The ad campaign that attracted the visitors to your business in the first place, however, does.

2. An unsatisfied stakeholder can never be a loyal stakeholder

No matter how great your organization compares to the competition, customer satisfaction is important if you want stakeholders to stick with you. Unsatisfied people will always take their business elsewhere, even if it means giving up advantages only your organization offers.

Did you know? Rather than pushing customer service staff to sell, sell, sell and hang up the phone as quickly as possible, Zappos encourages them to establish an emotional connection with the customers they talk to. It doesn’t even matter if they make a sale. Zappos’ longest call lasted for 8 hours – and the sales rep was lauded for it.

3. You can’t measure success without measuring customer satisfaction

Sure, you’ve got your goals all set out and you’re meeting all the deadlines. But what if your target audience actually prefers a different approach? Without measuring customer satisfaction, you can never be sure if you’re on the right track in the long run.

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